68% of Americans Plan to Cut Holiday Spending This Year
MINNEAPOLIS – October 29, 2026 -- More than two-thirds of Americans (68%) plan to cut at least one holiday expense this year, with dining out, gifts and travel the most likely to shrink, according to Thrivent's 2026 Holiday Spending Survey.
Rising everyday costs are squeezing holiday budgets
More than half of Americans (52%) expect the economy to affect their holiday spending at least a fair amount. Some 35% say they have already reduced spending on essentials in the past 6-12 months.
Nearly four in ten (38%) are more concerned about managing holiday finances than in past years. Among them, 75% blame the rising cost of everyday items. Overall, 72% say inflation is hurting their household finances heading into the holidays.